S Asian nations can piggyback on India's high growth rate

FE Team | Published: March 17, 2018 21:48:14

Kalpana Mandal
KATHMANDU, Mar 17 (PTI): SAARC nations should take benefit of India's growth rate of 7-7.5 per cent through increased economic cooperation, and by enhancing the geographical connectivity amongst themselves, Indian Ambassador to Nepal Manjeev Singh Puri said on Saturday.
"We will have to see how SAARC nations can benefit from India's 7-7.5 per cent GDP growth. For that they will have to increase connectivity amongst themselves. I feel all other nations in South Asia can piggyback on India's high growth rate and this can be an advantage plus for all countries. It will be a win win situation for all," Puri said here.
He was speaking on the sidelines of the 6th SAARC business leaders Conclave 2018 organised by SAARC CII (SCII) here.
Improving regional connectivity is very important objective for India, he said.
In terms of Nepal, India is making an integrated check post at Birpur which is almost ready and will be inaugurated soon, Puri said.
The motor vehicle act between Bhutan, Bangladesh, Nepal, India (BBIN) is being worked upon and there are efforts to revive the rail network amongst them also.
"We are interacting strongly with Nepal and looking forward in taking ahead many projects. For example, the 900-megawatt (MW) Arun III project is perhaps the largest hydro electric project in Nepal.
"We are looking at some other critical projects, including rail networks, road links," he said.
Puri also said boosting connectivity and ease of doing business are very serious endeavours of both the countries and a major objective of India-Nepal partnership.
Indo-Nepal trade has been growing rapidly over the years, Puri said.
Earlier, during a session on Unleashing South Asia, he pitched for granting of most favoured nation (MFN) status to each other amongst the eight SAARC countries.
On India Pakistan relations, the Indian ambassador said that dialogue between the two nations should be in sync with actions.
Terrorism should not be allowed to thrive and India has taken the initiative on the matter many times, but they should shun terrorism as it does not benefit anybody, he added.